Porsche AG, usually shortened to Porsche, is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans, headquartered in Stuttgart, Baden-Wurttemberg, Germany.
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Porsche is owned by Volkswagen AG, a controlling stake of which is owned by Porsche Automobil Holding SE.
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The Porsche 64 was developed in 1939 using many components from the Beetle.
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However, not all this work was wasted, as the chassis Porsche designed for the Tiger I was used as the base for the Elefant tank destroyer.
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Porsche developed the Maus super-heavy tank in the closing stages of the war, producing two prototypes.
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Porsche had to steer the company through some of its most difficult days until his father's release in August 1947.
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Company leader Ferry Porsche took his son's drawings to neighbouring chassis manufacturer Reuter.
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In 1972, the company's legal form was changed from Kommanditgesellschaft, or limited partnership, to Aktiengesellschaft, or public limited company, because Ferry Porsche came to believe the scale of the company outgrew a "family operation", after learning about Soichiro Honda's "no family members in the company" policy at Honda.
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Porsche planned to cease the 911 during the 1970s and replace it with the V8-front engined grand sportswagon 928.
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Porsche was then replaced in 1988 by the former manager of German computer company Nixdorf Computer AG, Arno Bohn, who made some costly miscalculations that led to his dismissal soon after, along with that of the development director, Dr Ulrich Bez, who was formerly responsible for BMW's Z1 model, and was CEO of Aston Martin from 2000 to 2013.
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In 1990, Porsche drew up a memorandum of understanding with Toyota to learn and benefit from Japanese lean manufacturing methods.
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Wiedeking took over the chairmanship of the board at a time when Porsche appeared vulnerable to a takeover by a larger company.
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Porsche 944s were built there, although they used far fewer Volkswagen components.
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Porsche SE was created in June 2007 by renaming the old Dr Ing.
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Porsche currently produces Porsche 911, Boxster and Cayman sports cars, the Cayenne and Macan sport utility vehicles and the four-door Panamera.
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In 2010, Porsche launched the Cayenne S Hybrid and announced the Panamera S Hybrid, and launched the Porsche 918 sports car in 2014, which features a hybrid system.
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Porsche developed a prototype electric Porsche Boxster called the Boxster E in 2011 and a hybrid version of the 911 called the GT3 R Hybrid, developed with Williams Grand Prix Engineering in 2010.
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In July 2014, Porsche announced the launch by the end of 2014 of the Porsche Cayenne S E-Hybrid a plug-in hybrid, which will displace the Cayenne S Hybrid from the lineup.
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The S E-Hybrid will be the first plug-in hybrid in the premium SUV segment and will allow Porsche to become the first automaker with three production plug-in hybrid models.
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Porsche is currently working with other manufacturers to make Porsche charging stations compatible with other electric vehicles.
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Porsche has a record 19 outright wins at the 24 Hours of Le Mans.
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In 2006, Porsche built 195 race cars for various international motor sports events.
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In 2007, Porsche was expected to construct no fewer than 275 dedicated race cars .
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Porsche's 911 has been officially named by the TUV as Germany's most reliable car.
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